The nutraceuticals market is predicted to witness a compound annual growth rate of 5.28% during the forecast period to reach a market size of US$301.578 billion by 2024, increasing from US$221.475 billion in 2018.
The demand for nutraceuticals (nutrition + pharmaceutical) is increasing on account of its ability to treat or prevent diseases in addition to providing nutrition. These are available in the market in the form of functional food and beverages, herbal products like ginger, garlic, onion, turmeric and many more. The growing aging population and growing health concerns worldwide are the major drivers driving the growth of the global nutraceuticals market. Producers term nutraceuticals for what is already available in the market in the form of food, spices, food ingredients, and dietary supplements.
o Growing health concerns
o Increasing Incidences of Chronic Diseases
o High cost involved
o Lack of product awareness
• INDUSTRY UPDATE
o In June 2019, Roquette Introduced PEARLITOL SW-F for Gluten-Free Nutraceuticals Dosage Forms
o In March 2019, Martin Bauer Group Acquired BI Nutraceuticals which is expected to help the organization to broaden its portfolio of ingredients.
The major players profiled in the Nutraceuticals market are Abbott Laboratories, AOR, Ajinomoto Health & Nutrition North America, Inc., Archer Daniels Midland Company, Cargill, Danone S.A., Mead Johnson & Company, LLC, Nestlé, Nordic Naturals, and Omega Protein Corporation among others.
|Market size value in 2018||US$221.475 billion|
|Market size value in 2024||US$301.578 billion|
|Growth Rate||CAGR of 5.28% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Abbott Laboratories, AOR, Ajinomoto Health & Nutrition North America, Inc., Archer Daniels Midland Company, Cargill, Incorporated, Danone S.A., Mead Johnson & Company, LLC., Nestlé, Nordic Naturals, Omega Protein Corporation|
|Customization scope||Free report customization with purchase|
The Nutraceuticals market has been analyzed through the following segments:
• By Type
o Functional foods
o Functional drinks
o Dietary supplements
o Herbal products
• By Application
o Food Ingredient
o Dietary supplement
• By Distribution Channel
• By Geography
o North America
o South America
? United Kingdom
o Middle East and Africa
? Saudi Arabia
o Asia Pacific
? South Korea
Frequently Asked Questions (FAQs)
Q1. What will be the nutraceuticals market size by 2024?
A1. The nutraceuticals market is predicted to reach a market size of US$301.578 billion by 2024.
Q2. What factors are anticipated to drive the nutraceuticals market growth?
A2. These are available in the market in the form of functional food and beverages, herbal products like ginger, garlic, onion, turmeric, and many more.
Q3. What are the growth prospects for the nutraceuticals market?
A3. The global nutraceuticals market is predicted to witness a CAGR of 5.28% during the forecast period.
Q4. What is the size of global nutraceuticals market?
A4. The nutraceuticals market was valued at US$221.475 billion in 2018.
Q5. Who are the major players in the global nutraceuticals market?
A5. The major players profiled in the Nutraceuticals market are Abbott Laboratories, AOR, Ajinomoto Health & Nutrition North America, Inc., Archer Daniels Midland Company, Cargill, Danone S.A., Mead Johnson & Company, LLC, Nestlé, Nordic Naturals, and Omega Protein Corporation among others.
1.1. MARKET OVERVIEW
1.2. MARKET DEFINITION
1.3. SCOPE OF THE STUDY
1.6. BASE, AND FORECAST YEARS TIMELINE
2. RESEARCH METHODOLOGY
2.1. RESEARCH DESIGN
2.2. SECONDARY SOURCES
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. MARKET SEGMENTATION
4.2. MARKET DRIVERS
4.3. MARKET RESTRAINTS
4.4. MARKET OPPORTUNITIES
4.5. PORTER’S FIVE FORCES ANALYSIS
4.5.1. BARGAINING POWER OF SUPPLIERS
4.5.2. BARGAINING POWER OF BUYERS
4.5.3. THREAT OF NEW ENTRANTS
4.5.4. THREAT OF SUBSTITUTES
4.5.5. COMPETITIVE RIVALRY IN THE INDUSTRY
4.6. LIFE CYCLE ANALYSIS - REGIONAL SNAPSHOT
4.7. MARKET ATTRACTIVENESS
5. NUTRACEUTICALS MARKET BY TYPE
5.1. FUNCTIONAL FOODS
5.2. FUNCTIONAL DRINKS
5.3. DIETARY SUPPLEMENTS
5.4. HERBAL PRODUCTS
6. NUTRACEUTICALS MARKET BY APPLICATION
6.2. FOOD INGREDIENT
6.3. DIETARY SUPPLEMENT
7. NUTRACEUTICALS MARKET BY DISTRIBUTION CHANNEL
8. NUTRACEUTICALS MARKET BY GEOGRAPHY
8.1. NORTH AMERICA
8.2. SOUTH AMERICA
8.3.3. UNITED KINGDOM
8.4. MIDDLE EAST AND AFRICA
8.4.1. SAUDI ARABIA
8.5. ASIA PACIFIC
8.5.3. SOUTH KOREA
9. COMPETITIVE INTELLIGENCE
9.1. COMPETITIVE BENCHMARKING AND ANALYSIS
9.2. RECENT InvestmentsS AND DEALS
9.3. STRATEGIES OF KEY PLAYERS
10. COMPANY PROFILES
10.1. ABBOTT LABORATORIES
10.3. AJINOMOTO HEALTH & NUTRITION NORTH AMERICA, INC.
10.4. ARCHER DANIELS MIDLAND COMPANY
10.5. CARGILL, INCORPORATED
10.6. DANONE S.A.
10.7. MEAD JOHNSON & COMPANY, LLC.
10.9. NORDIC NATURALS
10.10. OMEGA PROTEIN CORPORATION
LIST OF FIGURES
LIST OF TABLES
Ajinomoto Health & Nutrition North America, Inc.
Archer Daniels Midland Company
Mead Johnson & Company, LLC.
Omega Protein Corporation
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